Alan Appelbaum, former managing director and head of Aegis Capital Corp.’s municipal bond desk, has agreed to settle Securities and Exchange Commission charges that he disregarded his obligations as a broker-dealer and violated antifraud provisions in his recommendation of certain variable interest rate structured products to seven investors. Without admitting or denying the findings, Applebaum,
Stay informed with free updates Simply sign up to the US politics & policy myFT Digest — delivered directly to your inbox. Nearly half of American voters think the US is spending too much on aid for Ukraine, according to a poll that underscores the fragility of domestic support just as Volodymyr Zelenskyy prepares to
Close up of Chinese Yuan notes, with Mao Tse-tung Peter Dazeley | The Image Bank | Getty Images China’s recent policy support is aimed at fixing its system and shouldn’t be seen as economic stimulus, according to Societe Generale’s Asia chief economist and head of research. “Actually, to be frank, I don’t think anything [that]
California Gov. Gavin Newsom will need to close a $68 billion shortfall as he wraps up work on the proposed budget for fiscal 2024 that he will present to lawmakers in January. The upshot is that the flooding and massive storms that hit California in early 2023 and pushed income tax filings in the state
Moody’s Investors Service raised its outlook on U.S. nonprofit higher education sector to stable from negative on Thursday, citing expected narrowing gaps between expense and revenue growth. Also on Thursday, S&P Global Ratings affirmed its “bifurcated” outlook for the sector, which includes a negative outlook for less selective, more regional institutions without financial flexibility and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel’s national security adviser has warned that Israel “can no longer accept” the presence of Hizbollah forces on its northern border, and said it will have to “act” if they continue to pose a threat.
Seoul, South Korea ranked in the top three of the fastest growing destination for digital nomads. Prasit Photo | Moment | Getty Images Company: Samsung C&T (028260.KS) Business: Samsung C&T Corp is a Korea-based company engaged in the trading of industrial goods. The company operates its business through a group of segments. These include engineering
Residential buildings under construction at China Vanke Co.’s Isle Maison development in Hefei, China, on Monday, Nov. 27, 2023. China is ramping up pressure on banks to support struggling real estate developers, signaling President Xi Jinping’s tolerance for property sector pain is nearing its limit. Source: Bloomberg Bloomberg | Bloomberg | Getty Images BEIJING — China
Municipals were steady Friday, ignoring weakness in the U.S. Treasury market after the jobs report came in hotter-than-expected. Equities ended up. The November payroll report “was stronger than Wall Street was expecting, and we are already seeing significant upward pressure on Treasury yields,” said Scott Anderson, chief U.S. economist and managing director at BMO Economics.
Ohio for the first time can boast of a trifecta of triple-A ratings after S&P Global Ratings on Friday gave top marks to the state’s issuer and general obligation ratings. “The upgrades reflect our view of Ohio’s demonstrated commitment to active budget management and building and maintaining reserves through economic cycles,” said S&P analyst Rob
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. EU lawmakers have agreed the terms for landmark legislation to regulate artificial intelligence, pushing ahead with enacting the world’s most restrictive regime on the development of the technology. Thierry Breton, EU commissioner, confirmed in a
Hong Kong residential prices could fall by another 10% in 2024, according to DBS Hong Kong. Bloomberg | Bloomberg | Getty Images Hong Kong’s property market has plunged nearly 20% since its peak, and it may be a good time for homeowners to buy — but investors might want to think twice, according to Peter
As the first blockchain and cryptocurrency, Bitcoin (BTC) paved the way for everything that’s come since: nonfungible tokens (NFTs), smart contracts, tokenization, layer-2 solutions, and all the rest. Due to Bitcoin’s value to the cryptosphere, forming the bedrock that supports the rest of the market, its protocol is rarely altered. With hundreds of billions of
About 33 years after former junk bond king Michael Milken pleaded guilty to multiple counts of securities and reporting violations, Richard Sandler, his personal attorney and a childhood friend, has published a book on the investigation to “set the record straight.” “I can’t change the fact I wrote it now, rather than years ago,” Sandler
Municipals were slightly firmer Thursday as the last of the week’s large new-issues came and went while U.S. Treasuries were little changed and equities ended up ahead of Friday’s much-anticipated jobs report. Triple-A yields fell one to three basis points while USTs yields were relatively flat, only a basis point down out long. Relative value
Labour’s shadow City minister has unveiled 10 grandees from the Square Mile to advise the party, insisting her party has long stopped “sneering at business”. Tulip Siddiq said Labour wanted to work with the banking sector and she promised to prioritise stability after the upheavals of Brexit and Covid. “We are not coming in and
Our weekly roundup of news from East Asia curates the industry’s most important developments. Hong Kong gaming firm to invest $100M in crypto Boyaa Interactive International, a publicly-traded Hong Kong holding company specializing in online card and board games, wants to secure the approval of its shareholders to invest $100 million in crypto. According to
In this article GME Follow your favorite stocksCREATE FREE ACCOUNT A GameStop store in a strip mall in Chicago on March 16, 2023. Scott Olson | Getty Images Struggling retailer GameStop is giving its CEO and chair Ryan Cohen even more control, including the ability to use company cash to buy other stocks. In its
JPMorgan CEO Jamie Dimon is being hauled over the hot coals on crypto X (Twitter) after claiming Bitcoin (BTC) and cryptocurrency’s “only true use case” is to facilitate crime. “The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance,” Dimon said in a hearing before the United States Banking Committee
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT A Redfin sign in front of a home for sale in Atlanta on Nov. 10, 2022. Elijah Nouvelage | Bloomberg | Getty Images This year was the least affordable year for homebuying in at least in the past 11 years, according to a Thursday report